Anthropic has agreed to back a new independent AI consultancy in Europe with Hg, the London-based technology investor, according to a Financial Times report published Friday. The venture will embed AI consultants and engineers inside client companies to speed up how they build and deploy AI, with hubs in London and Berlin and a launch expected before the end of 2026.
Anthropic will contribute capital from its own balance sheet, while Hg will invest through the funds it manages, including the London-listed HgCapital Trust. The size of each commitment, the ownership split and the name of the new firm have not been disclosed, and neither company has publicly confirmed the terms.
The consultancy is Anthropic's first standalone services venture in Europe. It follows Ode, the independent AI services company Anthropic launched in the US on July 15 with Blackstone and Hellman & Friedman as founding partners.
Key facts
- 01Anthropic and Hg plan an independent AI consultancy in Europe that embeds AI consultants and engineers inside client companies.
- 02The firm is expected to launch by the end of 2026, with hubs in London and Berlin.
- 03Anthropic will contribute balance sheet capital; Hg will invest through funds it manages, including HgCapital Trust.
- 04Hg already employs about 150 AI experts across its portfolio, and the new venture will not replace that team.
- 05The venture follows Ode, the US AI services company Anthropic launched on July 15 with Blackstone and Hellman & Friedman.
Ode pairs Anthropic's models with experienced engineers to help businesses identify and implement AI applications. It carries $1.5 billion in planned investment from a consortium that also includes Goldman Sachs, Apollo Global Management and General Atlantic.
Hg brings a large ready-made client base. The firm reported more than $110 billion in assets under management as of June 30, 2026, and backs more than 60 technology and services businesses with an aggregate enterprise value above $195 billion. The new venture could give those portfolio companies a direct channel for deploying AI.
Hg already runs its own team of about 150 AI experts who deploy the technology across its portfolio companies. The new consultancy is not intended to replace that group.
Anthropic is not the only model maker building a services arm. OpenAI launched the OpenAI Deployment Company on May 11, a majority-owned unit with more than $4 billion in initial investment from a TPG-led syndicate, to help businesses build and integrate AI systems.
The Hg deal lands as Anthropic prepares for a public listing targeted for November, a timeline that remains subject to change. Its prospectus could become public as soon as Friday, according to media reports, and some investors are reportedly weighing a valuation of about $1.5 trillion, below the roughly $2 trillion discussed earlier.
A draft prospectus reported earlier this week showed a first-half 2026 net loss of $80.7 billion, compared with $13 billion a year earlier. About $72 billion of that figure came from a non-cash accounting charge tied to a higher estimated value of convertible bonds and other financing instruments, rather than from operating costs.
With Ode in the US and the Hg venture in Europe, Anthropic now has two private equity-backed services businesses built around its models. The European firm's London and Berlin hubs are due to open before the year is out.
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